Doha, Qatar–Qatar Electricity & Water Co. (QEWC) recorded a 12 percent increase in net profit to $211.26 million in the first half of 2023 as compared to $188.18 million for the same period in 2022.
A company statement on Monday indicated that the earnings per share (EPS) amounted to QR 0.70 as of 30th June 2023, versus Earnings per share (EPS) QR 0.62 for the same period in 2022.
The statement noted that under the chairmanship of Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi on Monday, the Board of Directors of QEWC approved the financial results for the first half ended on 30th June 2023.
The statement pointed out that QEWC reported revenue of $379 million compared to $329.67 million during the same period in 2022.
QEWC was established in 1990, with the aim of owning and managing power generation and water desalination plants and selling their products.It is one of the first private sector companies in the region that works in the field of electricity production and water desalination.
The company’s capital upon incorporation amounted to QR one billion, and is a company listed on the Qatar Stock Exchange.
